Government to Launch Rs 277 Crore Scheme to Boost MSE Participation in ONDC

ENA MSME 2024-06-21 16:45:45 New Delhi, Jun 21 (KNN) In a significant move to empower micro and small enterprises (MSEs), the Indian government is set to unveil the Trade Enablement & Marketing (TEAM) scheme. This initiative, with a substantial outlay of Rs 277 crore, aims to facilitate MSEs' integration into the Open Network for Digital Commerce (ONDC), marking a pivotal shift in their business models. The TEAM scheme, proposed by the Ministry of Micro, Small and Medium Enterprises, is designed to expand MSEs' reach beyond traditional brick-and-mortar setups. By leveraging ONDC, India's ambitious digital commerce network, the government targets to bring 500,000 MSEs into the digital fold by 2026-27. A key advantage of the ONDC platform is its cost-effectiveness for sellers. Unlike other e-marketplaces that charge commissions of 30-40 per cent, ONDC offers a more economical alternative, enhancing profitability for small businesses. The scheme's implementation will be overseen by the National Small Industries Corporation, which also manages the MSME Mart. It will provide subsidies to MSEs through seller network participants (SNPs) for various critical services including catalogue creation, account management, packaging, and logistics. SNPs will play a crucial role in bridging the gap between sellers and the ONDC network, facilitating payments and other essential services. They will also assist MSEs in securing initial orders, a vital step in establishing their digital presence. This initiative aligns with the government's vision of making e-commerce more inclusive and accessible. By enabling sellers across various platforms, including local kirana stores, to be visible to a wider audience of buyers, the TEAM scheme promises to level the playing field in digital commerce. As India continues its digital transformation, this scheme represents a significant step towards empowering its vast network of micro and small enterprises, potentially reshaping the landscape of digital commerce in the country. (KNN Bureau) 38303 https://knnindia.co.in/news/newsdetails/msme/government-to-launch-rs-277-crore-scheme-to-boost-mse-participation-in-ondc 2024-06-21 16:45:45 knnindia.co.in Government to Launch Rs 277 Crore Scheme to Boost MSE Participation in ONDC